branding and differentiation
Learning Objectives:
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Specification:
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1.4_branding_and_differentiation.pptx | |
File Size: | 2365 kb |
File Type: | pptx |
1.4_branding_and_differentiation_starter_activity.docx | |
File Size: | 38 kb |
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Strong branding means that a business is more likely to get customers both to trial products and make repeat purchases.
Companies with strong, well known brands have an advantage over other companies when it comes to product trial. Customers are more likely to opt for a brand they have heard of before. Customers also tend to make repeat purchases of strong brands.
Companies with strong, well known brands have an advantage over other companies when it comes to product trial. Customers are more likely to opt for a brand they have heard of before. Customers also tend to make repeat purchases of strong brands.
advantages of branding
Key term: PREMIUM PRICE - A price which is above the average for products of a particular price.
A consumer is likely to perceive a branded product as of higher quality and is therefore willing to pay more. Branded products also tend to be advertised more heavily so customers are willing to pay more.
Greater consumer awareness: Customers will be more aware of branded products due to advertising and this may influence their decision to buy them.
Increased sales and increased market share: Customers are more likely to make repeat purchases of branded products, leading to increased sales and increased market share.
A consumer is likely to perceive a branded product as of higher quality and is therefore willing to pay more. Branded products also tend to be advertised more heavily so customers are willing to pay more.
Greater consumer awareness: Customers will be more aware of branded products due to advertising and this may influence their decision to buy them.
Increased sales and increased market share: Customers are more likely to make repeat purchases of branded products, leading to increased sales and increased market share.
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Question: How is the Microsoft tablet different from the Ipad? How have they differentiated it?
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methods of product differentiation
Design, formulation and function: A business can differentiate its products in the way that they look and how they operate. New features are likely to make it stand out from a competitor's.
Name: The name of a product can tell a consumer a lot about it and make it more appealing e.g. Gold Blend. Packaging: This can keep the product safe but can also be used to promote the brand and inform customers of the features of the product. Think about perfume bottles. Differentiating across the value chain: This is the stages a product goes through before it reaches the customer. A food company using organic produce is differentiating itself and can stand out to customers. |
1.4_branding_and_differentiation_activity.docx | |
File Size: | 137 kb |
File Type: | docx |